(1 July 2026 – United Kingdom) Santander-backed payments group Ebury is mulling a £100 million plus takeover of fellow FX firm Lumon.
As Ebury seeks to ramp up growth ahead of going public, the company is running due diligence on a potential bid for Lumon. While there is no certainty the Ebury deal will come to hand the move represents the latest development in a series of high profile tie-ups in the UK FX market as extensive consolidation takes place.
East & Partners UK Business FX service highlights 18 discrete FX providers nominated as primary Spot FX provider in the UK market based on direct interviews with over 2,200 CFOs and treasurers in addition to a large group of Other non-bank providers.
Acquired by Pollen Street in 2013, Lumon has expanded through dealmaking under Pollen Street’s stewardship, most recently acquiring UK payments specialist Fiscal FX and Abacus FX.
“The additional investments will enable Ebury to scale faster and enhance its offering to SMEs globally” stated Banco Santander Executive Chair, Ana Botín.
“The funding round came at a time when AI and digital payments infrastructure are providing tailwinds for the company” commented Ebury CEO and Co-Founder, Juan Lobato.